The Olympic Village is Vancouver's last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw listings and sales up. Polygon sold a number of units at Foundry, averaging $700psf.
We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood. Most expensive listing $1,248,000 for 1141 sq.ft. sub penthouse (air conditioned) in Foundry.
Listings - Feb 19, Mar 18, Apr 16, May 26, Jun 28, Jul 18, Aug 26, Sept 36
Sales - Feb 0, Mar 3, Apr 5, May 3, Jun 4, Jul 10, Aug 2, Sept 9
Average Days on Market for Solds - Mar 22, Apr 28, May 14, Jun 41, Jul 94, Aug 37, sept 17
Average Sale Price - Mar $399,000 , Apr $325,000, May$429,665, Jun $424,750, Jul $378,150, Aug $401,500, Sept $516,522
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The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 68 per cent to 8,576 units in September compared to the same month last year. The average MLS® residential sales price in the province climbed 15 per cent to $474,169 from $412,149 in September 2008.
"Upward momentum in consumer demand continued unabated in September" said Muir, chief economist at BCREA
Vancouver's Downtown condo market saw listings up and sales down in September and a move up market with the middle range selling better than the bottom end. The average selling price and average $psf jumped due to more sales over $1M. Monthly sales were higher than a year ago, but lower than any of the 3 summer months. Condos that "expired" and didn't sell increased from 42 to 53 (vs. 78 in Jan) and one third got relisted (this figure is on the rise) indicating that the sellers that didn't relist will revisit the market at a future date (after 2010?), so expect a future increase in inventory. Average days on the market for condos that sold increased. 70% of the sales were under $500,000 (down from 80% in August) and sales increased in both the $500,000-700,000 price range and over $1M. The supply is up to 3.5 months and equal to Mar/Apr level (vs.16 months last October). The only price range to see listings decrease was $500-700,000. List price to sales price ratio dropped from 99% to 98%. Better opportunities for buyers and sellers now need to be priced sharp if they wish to make a sale.
Vancouver real estate analysis for Coal Harbour in September saw sales and listings decrease, compared to August. Days on market dropped to 62, slightly higher than a year ago. Coal Harbour inventory increased to 5 months, equal to April, as sales decreased but there were more luxury sales over $2 million, pushing up the average sale price to $1,129,000 and average $ pr sq ft up to $868. List price to sale price ratio dropped slightly to 96%. The market between $500,000 and $1,000,000 selling the best. If sales remain at this level the market will tilt in the buyer's favour, as listings increase.
Listings -124. 20 listed under $500,000. 48 listed between $500,000 and $1M. 30 listed between $1M and $2M and 26 listed over $2M, including 4 over $5M.
45% are listed over $1M, same stats as January.
Least expensive $285,000 for a studio 420 sqft . Least expensive 2 bedroom $475,000.
Vancouver's luxury condo market has been slow to get going this year. Since April the sales have increased but the average $ pr sq ft remains the same, it takes longer to sell these luxury condos than it did at the beginning of the year and the list price to sale price ratio has not improved, however, there are more sales over $3 million.
The first quarter of 2009 saw only 7 condo sales above $2M and only 2 sold over $3 million. Average days on the market was 66. List price to sale price ratio was 88% and the average sale price pr sq ft was $1,239.
The second quarter saw 20 sales, with only 3 selling over $3M and the most expensive was $5M on the Coal Harbour waterfront. Average days on market was 105. List price to sale price ratio was 89% and the average sale price pr sq ft was $1,111.
Vancouver condominium specialist. Waterfront neighbourhoods of Coal Harbour, Kitsilano, Downtown, False Creek North, Coopers Landing, West End & Olympic Village. Marketing Vancouver since 1981. A bou
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